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Tourist Refund Scheme (TRS) - Tax Free Jewellery From Moi Moi

Date Added: 3/09/2013

 

Do you know that as Australian Residents leaving for overseas, you can claim GST for goods purchased in Australia through the Tourist Refund Scheme (TRS)?
Most of us don't know about this benefit that you can claim GST on your way out of Australia. On one hand the Australian Taxation Office is happy to give you the refund but on the other hand they do not publicise it. Furthermore, they come out with a name like Tourist Refund Scheme (TRS) which we feel is a misnomer. It should be called TRS the Traveller Refund Scheme.

Normally when we say tourists we mean inbound travellers from overseas. When we say travellers, it would encompass the overseas tourists and Australian residents leaving our shore to go overseas. TRS as it is known, has been around for some years.

When you buy a wedding band or an engagement ring from Moi Moi and go overseas within 60 days, you can claim a GST refund lawfully and it is time we get something back from the ATO.

Back in April 2013, TRS has been overhauled. Essentially,

1. Now you can use two or more GST receipts from the same retailer and make up the total to $300. Under the old regulation you must spend more than $300 on one single receipt.

2. You can now claim GST refund on purchases up to 60 days before leaving Australia compared with the old regulation of 30 days.

Four Tips to claim your GST refund and have more money to spend overseas.

1. You must buy your goods from a retailer who has an ABN number and GST registered.

2. Carry or wear the goods on board and present them along with your original tax receipt, passport and boarding pass at the TRS facility after the immigration checkpoint.

3. Make sure that you have your name and address on the tax receipt for purchases over $1000. Don't get caught out by retailers who are too lazy to fill this out for you.

4. Make sure you are at the TRS counter no later than 30 minutes before departure time. Allow for long queues at the TRS facility and an unsympathetic officer when you run late.

For more details on the TRS scheme: http://www.customs.gov.au/site/page4367.asp#e1167.

-Stephen

 


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